Eurozone Retail Sales rise by 0.2% YoY in May vs. 5.4% expected

Eurozone Retail Sales rose by 0.2% MoM in May vs. 0.4% expected.
Retail Sales in the bloc arrived at 0.2% YoY in May vs. 5.4% expected.

Dhwani Mehta FXStreet

Eurozone’s Retail Sales increased by 0.2% MoM in May versus 0.4% expected and -1.4% last, the official figures released by Eurostat showed on Wednesday.

On an annualized basis, the bloc’s Retail Sales came in at 0.2% in May versus 4.0% recorded in April and 5.4% estimated.

FX implications

The euro is fading the recovery following a big miss on the Eurozone Retail Sales data.

At the time of writing, the major is trading at 1.0240, lower by 0.26% on the day.

About Eurozone Retail Sales

The Retail Sales released by Eurostat are a measure of changes in sales of the Eurozone retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. Usually, the positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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